It has been revealed that action being taken by the Ministry of Justice could result in a greater degree of protection for homeowners that could otherwise be at risk of losing their homes because of their inability to make repayments on personal debts such as credit cards. (more…)
Posts Tagged ‘debt’
Increased protection could be put into place for homeowners in debt
Thursday, February 25th, 2010
Interest rates to be curbed on pay day loans
Friday, February 12th, 2010Over recent years pay day loans have become increasingly popular amongst certain consumers such as those that are on low incomes and those with poor credit ratings. (more…)
Size of debt could be decreased with a balance transfer credit card
Wednesday, January 27th, 2010One financial industry group has recently suggested that consumers could really benefit by taking out a balance transfer credit card and transferring their higher interest credit card debts onto the card. (more…)
Cost Of Personal Loans Increased By Banks
Monday, January 11th, 2010Recent figures have shown that since the start of this year the cost of personal loans has been increased by banks, and this is despite the fact that the base interest rate has been at an all time low of just 0.5 percent for the past nine months. Since the start of this year the cost of a best buy loan for £5000 is said to have increased by around 1.54 percent to 10.78 percent according to reports. (more…)
Minimum repayment encouraging credit card debt
Sunday, December 27th, 2009Many consumers are being lulled into a false sense of financial security by credit card lenders that are quite happy to accept very low repayments on the credit card balance, but failing to make clear to the consumer that this will lead to a lifetime of debt for many. (more…)
Repossessions relating to credit card debt could increase
Friday, December 18th, 2009There are concerns that the number of repossessions in the UK that stem from credit card debt rather than secured debt may start to increase, which means that many people that may have kept on top of their mortgage repayments and other secured debts could still end up losing their home because of other debts that they have defaulted in even if the debt was not a secured one such as credit cards. This is due to proposals that are set to go into consultation over the coming weeks. (more…)
Property market more active than usual for this time of year
Thursday, December 10th, 2009It has been reported that the property market in the UK is more active than usual for this time of year, with many people putting their Christmas shopping on hold to get on with the more important matter of getting a house. (more…)
Borrowers trying to pay off more debt
Tuesday, December 8th, 2009Recent figures have shown that whist mortgage lending was up in October compared to September it appears that the residents of Great Britain are keeping focussed on paying off as much debt as possible. (more…)
Consumer felt duped by Yes Loans
Friday, November 27th, 2009A borrower in the UK, Louise Cowan, has recently detailed in a report how she felt duped by Yes Loans after being given the impression that she was being accepted for a loan only to find that she had then been passed on to some debt management firm. (more…)
More people could end up taking out IVA due to credit card debt
Wednesday, November 18th, 2009Officials from a national debt charity have recently stated that a rising number of people may end up turning to Individual Voluntary Arrangements (IVAs) in order to deal with the credit card debt that they accrue in the current difficult financial climate. (more…)
Bank took pensioner’s money to recoup daughter’s debt
Saturday, July 25th, 2009A major UK lender recently took a month’s pension money from an old age pensioner to use the money for repayment of her daughter’s debt. (more…)
New record for bankruptcy levels
Monday, June 15th, 2009It was revealed earlier this month that bankruptcy levels in England and Wales had reached the highest on record, with the financial crisis and the ongoing recession forcing more and more people into insolvency. (more…)
Debt amongst UK tenants soars
Saturday, June 13th, 2009According to a recent report the level of debt that the average UK housing tenant is now in has soared to its highest level since the 1980s. (more…)
Middle classes now struggling with loan repayments
Thursday, June 5th, 2008Whilst many people on lower incomes and bad credit have been struggling to meet loan and debt repayments for years, it seems that the global credit crunch has resulted in a new breed of consumers now struggling to make ends meet when it comes to their finances. According to a recent report more and more middle class consumers living in fairly affluent areas with their own homes are now struggling to keep on top of debt and loan repayments. (more…)
Debt relief orders could make bankruptcy too easy
Saturday, May 10th, 2008In April of next year the government are introducing Debt Relief Orders, and these orders are a way for low income borrowers with debts to declare themselves bankrupt online without having to go near a bankruptcy court or deal with the traditional hassles of filing for bankruptcy. However, there are concerns amongst some officials that DROs could make it too easy for consumers to escape their debts, and that the system is open to abuse. (more…)
CAB still dealing with many debt enquiries
Saturday, May 3rd, 2008An increasing number of households are currently trying to cope with rising debt problems, as rising bills, high mortgage repayments, and restricted access to credit all take their toll on our finances. As a result of this an increasing number of people are now seeking advice with relation to their debts, and the Citizen’s Advice Bureau has reported a significant rise in the number of people that have been contacting the agency with regards to financial problems and debt worries. (more…)
CAB reports rise in enquiries relating to mortgage arrears and debt
Tuesday, April 8th, 2008A recent survey has revealed that the Citizen’s Advice Bureau has seen a rise in the number of enquiries relating to mortgage arrears and debt related issues over the first part of this year. Money issues have always been one of the most commonly dealt with problems by the CAB, but with credit conditions tighter than ever and households facing huge financial woes, there has been a marked increase in the number of money related matters, including worries about mortgage arrears, that the CAB has been dealing with. (more…)
Keeping up with your secured loan repayments
Monday, February 25th, 2008Secured loans have become an effective and affordable way for homeowners to raise finance, and the increase in property values over the past few years has given homeowners in the UK more financial leverage to raise money by way of a secured loan. Secured loans offer a range of benefits, such as increased borrowing power based on equity levels and longer repayment periods to help keep costs down. This is why an increasing number of homeowners have turned to secured loans in order to get the money that they need. (more…)
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